Aditya Raheja, Chairman of The Advantage Raheja Group has been carefully observing market for quite some time. And based on his current analysis, the real estate sector is heading towards a rewarding trajectory. He is expecting the Indian realty market to pick up pace soon. The market that had been lying dormant for the last few years is showing signs of revival. It is breathing new fire. A stabilized economy, low rate of interest and slow inflation has paved in a way for the sector to be back in the game. The prices of the properties had fallen by 6-18 percent in the last few years. Last few years were testing for developers as well as consumers.
The market scenario had been at its worst that I have ever seen. There were far too many reasons for the same. The frail Indian political stature had rendered a hard blow to the realty sector. It was managing to crawl through. But now, stable government has led to an unwavering phase for the sector. To accentuate this, cut in repo rate has led to cheaper housing loans. Also, people are no more wary of investing in real estate. The number of enquiries and footfall at offices and sites has increased substantially. Aditya Raheja said that they are looking forward to good sales figures.
The reductions in repo rate by the Reserve Bank of India since Jan-2015 has been translated into lower EMI for home loans. Almost all the banks have reduced their interest rates. Also, as of now, the phase is extremely good for making purchase as the prices are still low. Aditya Raheja also mentions that the current phase is extremely rewarding for the customers as the market is still recovering from the slog. The prices are low and developers have been holding on to a large number of inventories that they would want to get rid of. A clever Indian customer can strike a bargain. Prime Minister Narendra Modi has laid stress on ‘development for all ‘through his three policies. These have further indicated towards a good phase for the realty sector.